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lawyer [7]
3 years ago
10

Price is constant to the individual firm selling in a purely competitive market because:

Business
1 answer:
musickatia [10]3 years ago
7 0
Any sellers who raise its price lose all of their customers
any sellers who lower the price also cause the reduction in price of other firms,that may lower the profit gained
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Which field of economics deals primarily with the problems faced by​ low-income countries?
Marta_Voda [28]

Answer:

Development economics

Explanation:

Development economics is a field which deals with the problems dealt by low-income countries and low-middle income countries. The focus of development economics is to solve the development problems by using economic tools and to push these low-income countries to start trade with developing or developed countries. Development economics gained popularity, especially after globalisation, because it provided low-income countries with an opportunity to interact with other countries.

3 0
3 years ago
Imagine that odyssey national is a brand new bank, and that its required reserve ratio is 10 percent. if it accepts a $1,000 dep
Snezhnost [94]
Hi there
Excess reserve balance is
1,000−1,000×0.1=900

Hope it helps
8 0
3 years ago
Read 2 more answers
Which of the following are examples of natural barriers to entry? Correct Answer(s) Drag appropriate answer(s) here Smaller comp
andreyandreev [35.5K]

Answer:

These are correct:

  • Smaller companies with smaller production processes have higher per unit costs than larger companies. - smaller firms find it harder to adopt economies of scale to reduce costs.
  • Over time, a firm takes control of 85% of the world’s supply of a chemical used in the production of plastic. - the firm has almost total control over a scarce resource, and new competitors have to scramble for the remaning 15%. (note: this is a natural barrier to entry as long as the pharmaceutical company did not collude with the government to reach such a high market share, in said case, it would be an artificial barrier to entry).
  • Lenders are hesitant to provide funding for new firms that will compete with a large, well-established firm. - a small firm may lack market credibility in the financial markets, because investors are hesitant about the future of the company, or do not expect high rates of return.

5 0
3 years ago
Stormer Company reports the following amounts on its statement of cash flow: Net cash provided by operating activities was $30,5
DIA [1.3K]

Answer:

$38,500

Explanation:

Sheridan's ending cash balance can be calculated as;

= Beginning cash balance + cash provided by operating activities + cash provided by financing activities - cash used by investing activities

= $5,500 + $30,500 + $13,500 - $11,000

= $38,500

Therefore, the ending cash balance is $38,500

6 0
3 years ago
What is the equilibrium quantity for phones?
Nana76 [90]

Answer:

Readjusting once again to marketplace conditions, the next year the company produces 65,000 phones, with a retail price of $45. At the end of the year, the company’s sold almost its total supply of phones. It indicates that the equilibrium quantity of phones is 65,000, at a retail price of $45 (which would be the equilibrium price). More Resources

Explanation:

According to our curve, the equilibrium point initially is indicated by point E on the graph, but since the supply of cellphones has increased, quantity supplied increases to the graph indicated by S 1 S 1, this causes an excess of the product in the market resulting in a stiff competition which often sees the sellers reduce their prices. hope that helps.

3 0
2 years ago
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